Paris Ph.D. Programme

Choose a dissertation topic

Finance

« Green Finance » (investissement et financement des activités « durables » (lutte contre le changement climatique, portefeuille de titres à faible empreinte carbone, etc.)

En collaboration avec la chaire BNPP CIB / ESCP Europe
Projet financé par un contrat doctoral de 3 ans
Profil souhaité : Finance / Stratégie

Pr. Franck Bancel

Sport and Finance: three articles on the professional football
Sport is a major economic activity that remains relatively un-analyzed in terms of financial stakes. Based on the theoretical framework proposed by corporate finance, the thesis will present an analysis of the financial mechanisms specific to the football and focus on the following questions:

  • How to measure the risk for the football industry?
  • How to evaluate football clubs?
  • What is the impact of Corporate governance on the value of a club?

Pr. Franck Bancel

Corporate Governance and Firm Value
Corporate Governance is a vast but still growing field. Recently the focus is on board composition and CEO’s and board members’ skills, education, culture, and network. 

A non-exhaustive list of possible topics is:

  • What are the CEO’s and board members’ skills that enhance firm performance? 
  • Does the CEO’s and board members’ network improve access to capital markets and firm performance?
  • Do board members with different profile and culture improve firm innovation and performance?

Prof. Alberta Di Giuli

Corporate Social Responsibility Policies

Corporate Social Responsibility (CSR) is a new field in the realm of finance that is rapidly evolving. The notion of CSR per se and the way of implementing and merging the corporate social responsible policies with the business strategy is changing as well. 

  • What are the new trends in CSR policies? 
  • What are the effects of the different CSR policies on firm performance? 
  • Are the firms ready to face the future (possible) regulations, especially the ones related to the environment? How will firms respond to them? 

Employee satisfaction and firm value 

Working environment and employee satisfaction have been proved to enhance long term firm performance. 

  • What are the main factors that affect employee satisfaction? 
  • How does employee satisfaction affects the ability of a firm to attract and retain (good) employees and eventually increase firm value? 

Antitrust / Industrial Organization

European antitrust decisions rely more and more on economic arguments and models. Two areas will be of particular interest in the coming years:
1) Intellectual property rights and their use as a competitive tool and 2) Information exchange between competitors. Analyzing these problems requires sound foundations in game theory and the theory of industrial organization. PhDs on these topics can rely on empirical work as well as on game theoretic modelization of markets. (Prof. Michael Troege)

.

Auction Theory

Auction theory is by now a mature filed of game theory; however, the theory has not been applied very much. There are many real life situations where auction theory can contribute to a better understanding of markets and help to improve the selling process. Examples are Treasury bond auctions, IPOs, Corporate Takeovers. Doing a PhD in auction theory requires sound mathematical background and if possible some knowledge of game theory. (Prof. Michael Troege)

.

Empirical /Theoretical Corporate Finance

Corporate Finance decisions such as the choice of capital structure, dividend policy, the use of innovative financial instruments, risk management policies etc. interact in complex ways with a company’s strategy and can have a decisive impact on performance. Today researchers use microeconomic models to describing and understand these mechanisms. At the same time the availability of very large electronic databases makes it possible to empirically identify fascinating relationships between different seemingly unrelated variables. Given a good mathematical background, the necessary econometric knowledge can be acquired during the first year of doing a PhD. (Prof. Michael Troege)

.